Subject: Partial modification of Instruction No. 1914 dated 21.3.1996 to provide for guidelines for stay of demand at the first appeal stage
Reference : Board’s O.M. of even number dated 29.2.2016 and 31.7.2017
Vide Board’s O.M. of even number dated 31.7.2017, modifications were made to O.M NO. 404/72/93-1TCC dated 29.2.2016. to the effect that the standard rate prescribed in O.M. dated 29.2.2016 stood revised to 20% of the disputed demand, where the demand was contested before CIT(A).
It is hereby clarified that the modifications laid down in Board’s O.M. dated 31 7.2017 are prospective in nature and matters already decided as per Board’s O.M. of even number dated 29.2.2016 before the issue of O.M. dated 31.7.2017 shall not be reviewed merely on the grounds of the modifications laid down in the said O.M. dated 31.7 2017.
Central Board of Direct Taxes